Port Blakely Morton Acquisition Summary

DWT handled a large Section 1031 tax deferred exchange involving over 66,000 acres of timberland and over $210 million in total exchange consideration for our client Port Blakely Tree Farms Limited Partnership. The exchange involved the sale of properties in both Oregon and Washington, with a new purchase of over 40,000 acres in Lewis and Skamania Counties, Washington. The entire exchange from the signing of Purchase Agreements through closing was completed in only four months and included six parties as buyers from Port Blakely and two parties as sellers to Port Blakely.

In a statement to the Puget Sound Business Journal, Michael Mosman, Port Blakely Vice President, was quoted as saying: "This is an appropriate time to sell these nonstrategic parcels because right now the market for quality, well-managed timberland is strong, and we have the opportunity to redeploy the proceeds in a more strategic location."

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